Fiserv and Plaid to Revolutionize Secure Data Sharing for Financial Institutions and Consumers
12 Outubro 2023 - 9:46AM
Business Wire
Fiserv, Inc. (NYSE: FI), a leading global provider of payments
and financial services technology, and Plaid, a data network at the
forefront of the digital financial landscape, today announced an
agreement to enable secure and reliable data sharing through
application programming interfaces (APIs), addressing growing
consumer demand to access their financial information when, where
and how they want.
Through this collaboration, consumers who bank with the nearly
3,000 bank and credit union clients hosted by Fiserv will have
secure, credential-less API-based connectivity to the more than
8,000 applications and services on the Plaid network via AllData®
Connect from Fiserv, allowing consumers to share their financial
information with the third-party financial apps and services of
their choice. The scale of this agreement is unprecedented in the
industry and will significantly expand the direct sharing of data
between financial institutions and the third parties with which
their customers interact.
“Our partnership with Plaid allows banks and credit unions to
empower consumers to access their financial information beyond the
financial institution, while maintaining their trusted role at the
center of people’s financial lives,” said Matt Wilcox, President of
Digital Payments at Fiserv. “By facilitating access to a broad
range of capabilities and experiences through third-party apps and
services we are charting a course towards an open finance ecosystem
that prioritizes data privacy, consumer access, and choice.”
Fiserv and Plaid are in an ideal position to facilitate secure,
direct data access at scale. By connecting to the Plaid network via
AllData Connect from Fiserv, financial institutions can ensure
consumers have reliable access to their data as well as a seamless
and more secure experience when using third-party apps and
services.
“Financial institutions regardless of size, location, or capital
should be able to power these digital experiences for their
consumers via APIs,” said Aly Yarris, Financial Access Partnerships
at Plaid. “We’re proud to partner with Fiserv to bring secure,
reliable API connectivity to thousands of financial institutions on
behalf of their many customers.”
“Our customers want to ensure reliable connections to the
applications they choose to do business with, and we see the
partnership between Fiserv and Plaid as an important step to
delivering secure open banking,” said Jason Lazzerini, Executive
Vice President and Chief Digital Officer at Central Pacific
Bank.
Fiserv and Plaid will also advance secure and transparent data
sharing in line with anticipated regulatory guidance such as that
outlined by Dodd Frank 1033, the regulation that governs secure
financial data access, transforming the future of financial
services.
“Fiserv and Plaid are leaders in open finance, operating with a
commitment to standardized data sharing for the benefit of
financial institutions, fintechs and consumers,” said Don Cardinal,
Managing Director of FDX, a non-profit industry standards body
operating in the U.S. and Canada that is dedicated to unifying the
financial sector around a common standard for secure and convenient
access of permissioned consumer and business financial data. “The
formalization of their relationship is a leap forward for direct
data sharing and great news for the ecosystem.”
AllData Connect from Fiserv, part of the AllData® Aggregation
product suite, enables credential-free data sharing for hosted
banks and credit unions, empowering consumers to consent to share
their financial data with third-party applications without the need
to share their login credentials. AllData Connect orchestrates
direct validation of the consumer with their respective financial
institution and subsequently issues a token employed by third
parties to access and update consumer data through the AllData
Connect platform.
Fiserv also facilitates data sharing through relationships with
Akoya, Finicity and MX.
In a world moving faster than ever before, Fiserv helps clients
deliver solutions in step with the way people live and work today –
financial services at the speed of life. Learn more at
fiserv.com.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move
money and information in a way that moves the world. As a global
leader in payments and financial technology, the company helps
clients achieve best-in-class results through a commitment to
innovation and excellence in areas including account processing and
digital banking solutions; card issuer processing and network
services; payments; e-commerce; merchant acquiring and processing;
and the Clover® cloud-based point-of-sale and business management
platform. Fiserv is a member of the S&P 500® Index and one of
Fortune® World’s Most Admired Companies™. Visit fiserv.com and
follow on social media for more information and the latest company
news.
About Plaid
Plaid is a global data network that powers the tools millions of
people rely on to live a healthier financial life. Our ambition is
to facilitate a more inclusive, competitive, and mutually
beneficial financial system by simplifying payments,
revolutionizing lending, and leading the fight against fraud. Plaid
works with over 8,000 companies including fintechs like Venmo and
SoFi, several of the Fortune 500, and many of the largest banks to
empower people with more choice and control over how they manage
their money. Headquartered in San Francisco, Plaid’s network spans
over 12,000 institutions across the US, Canada, UK and Europe.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20231012277216/en/
Ann Cave Vice President, External Communications Fiserv, Inc. +1
678-325-9435 ann.cave@fiserv.com Freya Peterson Corporate
Communications Lead Plaid +1 650-793-2694 press@plaid.com
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